EBA欧洲银行-EBA-GL-2014-08-28GLs-on-remuneration-benchmarking-29_16页_362kb

EBA Guidelines on the Remuneration Benchmarking Exercise (EBA/GL/2014/08)

Core Content

These guidelines, issued by the European Banking Authority (EBA), outline the supervisory practices and data collection requirements for remuneration benchmarking within the European Economic Area (EEA). They are based on Article 16 of the EBA Regulation (Regulation (EU) No 1093/2010), and aim to ensure consistency and transparency in remuneration practices across financial institutions.

Key Requirements

1. Scope of the Exercise

• The exercise applies to competent authorities and is focused on remuneration benchmarking.
• Coverage requirement: Competent authorities must ensure that at least 60% of the financial sector (credit institutions and investment firms) in their jurisdiction is included in the benchmarking exercise, based on the aggregated total assets.
• Alternative coverage: If 60% cannot be achieved, up to 20 largest individual institutions in the Member State may be submitted.
• Additional institutions: Competent authorities may include other institutions if deemed necessary.
• Annual update: Competent authorities must notify the EBA annually about the institutions included in the exercise, with minimal changes to maintain stability.

2. Data Collection and Consolidation

• Data should be collected at the highest level of consolidation as defined in Regulation (EU) No 575/2013.
• Consolidated data: If an institution is part of a group included in the EBA's exercise, its subsidiaries should not be included in the data collection.
• Data submission: The EBA requires data on remuneration trends and practices from institutions in specific categories, such as:
  • All staff
  • Identified staff (those with a material impact on risk profile)
  • Identified staff earning EUR 1 million or more per financial year

3. Format and Frequency of Data Submission

• Submission deadline: Data must be submitted to the EBA by 31 August of each year.
• Reporting system: Use the EBA remuneration benchmarking reporting system.
• Templates: Three templates are provided for data submission:
  • Annex 1: Remuneration for all staff
  • Annex 2: Remuneration for identified staff
  • Annex 3: Remuneration for identified staff earning EUR 1 million or more

4. Data Content and Reporting Rules

• Performance year: Data refers to the financial year preceding the submission year.
• Multi-year remuneration: For remuneration awarded over multi-year periods, it should be fully allocated to the financial year of award, not the payment date.
• Deferred remuneration: Only deferred variable remuneration awarded in the current performance year should be reported.
• Ex post adjustments: Adjustments such as clawback and malus should be reported separately, without deduction from variable remuneration.
• Currency conversion: Data must be reported in EUR using the Commission's exchange rate for the reporting year.
• Headcount and FTE reporting:
  • Use natural persons for headcount
  • Use full-time equivalent (FTE) for staff with part-time contracts

5. Staff Classification

• Staff should be classified under the function or business area where they perform the predominant part of their activities.
• Identified staff are those whose professional activities have a material impact on the institution's risk profile, as defined in Article 92(2) of Directive 2013/36/EU.

6. Data Quality

• Competent authorities must check the completeness and plausibility of data from participating institutions.
• They should perform additional quality checks at the EBA's request.

Implementation and Transition

7. Repeal

• The previous EBA Guidelines on the remuneration benchmarking exercise (EBA/GL/2012/04) are repealed with immediate effect.

8. Transitional Arrangements

• 2013 performance year data: Must be submitted by 30 November 2014.
• Identified staff definition: For 2013, it refers to those described in Annex V, Section 11(23) of Directive 2006/49 as amended by Directive 2010/76/EU.
• Mapping issues: If data cannot be mapped to the specified categories, institutions may report aggregated data under the "all other" category.

9. Date of Application

• Competent authorities must incorporate these guidelines into their supervisory procedures by 31 October 2014.
• After this date, they must ensure effective compliance by institutions.

Annexes Overview

• Annex 1: Provides data on remuneration for all staff, categorized by function/business area.
• Annex 2: Focuses on identified staff, with details on fixed and variable remuneration, deferred amounts, and ex post adjustments.
• Annex 3: Reports on identified staff earning EUR 1 million or more, grouped by remuneration bands.

Conclusion

These guidelines establish a structured and consistent framework for remuneration benchmarking across the EEA, with clear reporting requirements, data collection rules, and transitional arrangements to ensure smooth implementation. The focus is on transparency, data quality, and alignment with EU law, particularly Directive 2013/36/EU and Regulation (EU) No 575/2013.